🇭🇰 Pay Suppliers in Hong Kong
Pay Hong Kong trading companies for re-exports, electronics, textiles, logistics services
T+0 (2.3s avg within Unicorn network). Save 80% vs traditional banks.
What you need to send money to Hong Kong
What details do I need to pay suppliers in Hong Kong?
To pay suppliers in Hong Kong you need the recipient's Clearing Code + Account (3-digit clearing code and account number), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Hong Kong?
Payments to Hong Kong settle in an average of 2.3 seconds when using local rails such as FPS (Faster Payment System), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Hong Kong?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 80% versus banks (e.g. £505 vs £2530 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Hong Kong
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.5% | 0.5% |
| Payment Fee | £30 | £5 |
| Total Cost (£100,000) | £2,530 | £505 |
| YOUR SAVINGS | N/A | £2,025 (80%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Hong Kong
Avoid expensive SWIFT fees. We use local payment systems in Hong Kong for faster, cheaper settlement.
FPS (Faster Payment System)
Instant payments 24/7, multi-currency (HKD, CNY)
CHATS (Clearing House Automated Transfer System)
Hong Kong's real-time gross settlement system
RTGS
Large-value payment system operated by HKMA
Who Uses This Payment Corridor
Key Industries in Hong Kong
- Trade & Logistics
- Electronics
- Finance
- Textile Trading
- Re-export
Average Transaction: £70k-£300k
Typical Monthly Volume: £350k-£4M
Popular Supplier Types
- Electronics traders (Kowloon, New Territories)
- Textile exporters (Tsuen Wan, Kwun Tong)
- Logistics providers (Kwai Chung, Tsing Yi)
- Manufacturing agents (Sheung Wan, Central)
What You Need to Know: Hong Kong Payments
Regulatory Considerations
- HKMA (Hong Kong Monetary Authority) regulations
- No VAT/GST (tax-free environment)
- Business registration number required
- AML/KYC compliance critical for financial hub
Payment Tips for Hong Kong
- Hong Kong = Asia's financial and trade hub, gateway to China
- FPS enables instant HKD/CNY payments without SWIFT
- Many suppliers are trading intermediaries (not manufacturers)
- Competitive FX rates due to open market and competition
Why Choose Unicorn for Hong Kong Payments
Local Rails, Not SWIFT
We use FPS (Faster Payment System) and other local systems in Hong Kong. Avoid 3-4% SWIFT fees and 2-3 day delays.
80% Lower Costs
Save £2,025 on every £100,000 payment. On £350k-£4M monthly volume, save up to £60,750 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Hong Kong payments.
Real-Time FX Tracking
Upload supplier invoices in HKD. See live P/L as GBP/HKD rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Hong Kong? Save 80%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Hong Kong
For businesses with high annual FX volume. Not consumer transfers.